Belize - Belize News - Channel5Belize.com - Great Belize Productions - Belize Breaking News
Home » Economy, Featured, Miscellaneous, People & Places » Despite Gloomy IMF Report, Mayor Bradley Says It’s Still All Good
Jun 8, 2016

Despite Gloomy IMF Report, Mayor Bradley Says It’s Still All Good

Darrell Bradley

There is growing concern over the findings of the IMF team released in the recent Article Four consultations. That report points to a weakening fiscal position which has proportionately increased the nation’s vulnerability. It’s not a glowing report, far from it, but government has yet to formulate an official response. The Chamber of Commerce has, however, expressed its concern and query as to what measures government will put in place to aid recovery.  With no official release forthcoming, we’ve tried to get input from government representatives, none of whom have shown any great concern. Today Mayor Darrell Bradley followed that trend, claiming that it’s still all good.

 

Darrell Bradley, Belize City Mayor

“Our nation is doing very well compared to other nations in the region of similar size. We have growth. There’s a tremendous improvement in the construction industry. Agriculture has fared fairly okay given the fact that we have significant competition from abroad and there are certain climate issues affecting our agriculture. I think that our dollar is very stable and countries in comparison to Belize where there is significant downturn, negative growth or zero growth – to live in a country where there is respectable, healthy and consistent growth – that’s something that we have to be very proud of. I think that the government has been very responsible. I think that the fiscal policy and the economic policy of the Central Government, particularly the Ministry of Finance has been very positive and it has kept us on a path of continuous growth. But we do have vulnerabilities. The report mentioned the Superbond, it mentioned that fact that principal payments will come due, so the areas where the area highlighted as vulnerabilities are things which really are outside government control.”

 

Mike Rudon

“You have been a mayor who has had to implement certain measures in order to increase revenue to fuel certain development in the city. We understand that the IMF has also made some recommendations. Do you feel that a time will come when government will have to perhaps increase taxes or put other measures in place to increase revenues?”

 

Darrell Bradley

“While I think that the government’s position is very challenging as to whether or not you take a turn toward austerity, we have not taken that direction. You’ve seen a significant amount of infrastructure investment. I see a tremendous amount of multipliers…you look at a street like the Central American Boulevard -there’s a lot of economic activity stimulated as a result of government spending. On the Northern Highway we will expect that – on Chetumal Boulevard, on Lake Independence Boulevard we will expect that. I do think though that in terms of a certain tightening up of the reins perhaps that will be necessary, but that’s not something which I think will be something that promotes economic growth. I think government has always been on the point of ensuring that there’s a safety network. Many of government’s programs have been very encouraging and stimulating of economic activity. The spending on infrastructure has been very good for our economy. I think those things will continue, notwithstanding the fact that I think that in some areas there may need to be austerity.”

Be Sociable, Share!


Viewers please note: This Internet newscast is a verbatim transcript of our evening television newscast. Where speakers use Kriol, we attempt to faithfully reproduce the quotes using a standard spelling system.

Advertise Here

Leave a Reply

CAPTCHA Image
*